Why Sunil Bharti Mittal Is A Harried Man Today
From business worries to managing the political environment, the telecom-to-retail magnate has plenty on his plate. Eight points:
- Monstrous Debt Flagship Airtel in a tight financial spot, thanks to purchase of Zain in Africa; has debt of a whopping Rs 57,643 crore.
- Slipping Patronage Political backing for Mittal has diminished. There have been several run-INS with government and telecom authorities.
- Endless Cash Needs Mittal has huge financial needs over the next few years. Just this round of spectrum will put him back by up to Rs 18,500 cr
- Bruising Battles Mukesh Ambani is within striking distance of Mittal’s telecom business with 4G play Reliance Jio, slated to start this year.
- Desperate Moves Tie-up with Reliance Jio seen as a desperate move to generate revenue; overseas tower business is apparently on the block.